Marsa Alam building

Good News For Marsa Alam

The UK airline company Thomas Cook has announced that it will resume flights to Marsa Alam Airport on October 21, after a nine years suspension of flights to the city since 2008. The airline will operate two flights weekly during the winter season, from the cities of Birmingham on Mondays and Gatwick on Thursdays. The company advised its customers on its website to spend their holidays at the resorts of...

Tour guides on camels in front of Giza pyramids

Saudis Flock to Egypt to Buy Property

More Saudis are encouraged to buy property in Egypt a year after the currency flotation. As apartment prices start from $80,000, many Saudis found it a good chance to own a property in Egypt, especially those who love to spend their vacations there. Many also started to buy properties out of Cairo, like the North Coast, El Gouna, Soma Bay and Sahl Hashesh. Paul Smith, Senior Sales Director at Kinney...

Cairo city

Egypt’s Crazy Inflation Is Pushing Up Property Prices

Egypt is a good lesson in why it is important to distinguish between nominal and real house prices.  Extraordinarily high inflation (29% and rising) caused by floating the currency in November 2016 means that 22.86% nominal house prices increases actually disguise real house prices declines of 5.32%! Egypt's economy grew by 4.3% in 2016, the highest growth in 6 years, on the back of strong private...

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